The development will include 150,000 sf of retail space and50,000 sf of office space in stand-alone buildings and space abovethe retail space. Prospective tenants include Publix, Walgreens,Starbucks, Wachovia, Bank of America, Hair Cuttery, TicklepotsChildren's Boutique, Rosano's Italian Restaurant, Carvel Ice Cream,Panera Bread and Dermatology Center of Boynton Beach. It isexpected to be completed in 2008.

|

GL Commercial president Jeff Mooallem tells GlobeSt.com thatPublix has signed a lease for 55,000 sf and letters of intent havebeen signed for the other prospective tenants. Commitments are inplace for about 50% of the space. Marketing efforts for the officespace have not yet started, but GL anticipates a mix ofneighborhood-oriented businesses and lifestyle tenants.

|

Designed as a Main Street-style shopping plaza, the developmentwill look like a micro-village with a one-acre town green, openplazas, sidewalk cafes, and covered walkways. Future development ofan adjacent 85 acres is scheduled to include a park, sports fields,and an elementary and middle school. Mooallem says the site is oneof only two commercial sites approved in Palm Beach County'sAgricultural Reserve, a residential area spanning 32 square milesin unincorporated Palm Beach County.

|

"There is a lot of growth and planned growth west of the FloridaTurnpike," he says. "This is one of only two commercial projects toserve the area."

|

According to statistics, approximately 100,000 residents livewithin a five-mile radius of the project. There are currently30,000 homes with another 6,500 approved for future construction."The demographics are good for retail development," Mooallemsays.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.